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Sep 27, 2012
09/12
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you've got to put money to work in this environment. how do you do it when we see the fundamentals are not keeping up with some of this market performance? >> it's a real challenge. the private client was tremendously traumatized by the financial crisis and spooked by technology glitches and continuing scandals in the marketplace. they still don't trust that if they put their money in stocks, bonds, mutual funds, it's going to grow in value over time. we've been encouraging them in as many ways as we can to move out of cash, move out of bonds, which they perceive as safe but have their own risks, into at least a benchmark waiting in equities. the problem is all through this year you've had overhanging uncertainty in the marketplace. first, u.s. economic growth, china, european sovereign debt crisis. those have been replaced right now by, as you've mentioned, fiscal cliff and debt ceiling negotiations. the investor is confused about where to go, but those investors who stayed in cash missed this rally that we've had this year. they shoul
you've got to put money to work in this environment. how do you do it when we see the fundamentals are not keeping up with some of this market performance? >> it's a real challenge. the private client was tremendously traumatized by the financial crisis and spooked by technology glitches and continuing scandals in the marketplace. they still don't trust that if they put their money in stocks, bonds, mutual funds, it's going to grow in value over time. we've been encouraging them in as...
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Sep 27, 2012
09/12
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and sends us into a slower growth environment or even recession. so i think we want to look at both of those possibilities. i would have wanted to see more data on that and see how that's unfolding before we took action. >> i'm really glad you brought up the fiscal deal. we've been talking about this so much on this program, this fiscal cliff. many economists expecting we'll dip back into a recession in 2013 buecause we'll go over the fiscal cliff. obviously no deal before the election. it's a 2013 affair. is that where you stand with the economy, dip back into a recession given where we are with this fiscal cliff? >> well, the cbo's estimates seem to suggest that. if it was just a no deal all around, gdp would decline in the first part of next year. i continue to think that despite all the brinksmanship, there will eventually be some kind of deal. obviously it won't be what everybody wants. it will have to be some kind of compromise. it might be hard to see it right now. but i think there will be some kind of deal. what's bad for the u.s. economy
and sends us into a slower growth environment or even recession. so i think we want to look at both of those possibilities. i would have wanted to see more data on that and see how that's unfolding before we took action. >> i'm really glad you brought up the fiscal deal. we've been talking about this so much on this program, this fiscal cliff. many economists expecting we'll dip back into a recession in 2013 buecause we'll go over the fiscal cliff. obviously no deal before the election....
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Sep 28, 2012
09/12
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goldman sachs says the current downsizing environment increases the potential for m & a activity. with the clock ticking down to fiscal armageddon, expect defense companies to send out layoffs after the holiday. that's your q-4 channel check for defense. i'm jane wells. >> all right. so let's dig deeper into which defense stocks could feel the biggest impacts if we go off the fiscal cliff. >> joining us is jeremy devaney. do you think we'll see those sequestration cuts in defense next year, $55 billion? >> good afternoon, bill. thanks for having me on. yes, we definitely think the fiscal cliff is coming, especially the sequestration cuts or the budget cuts for the defense department. right now the polarization up on the hill is not allowing for any movement in legislation to resolve that issue. >> all right. so let's talk about sort of breaking this down. first off, when are you expecting the defense companies to alert employees that their jobs will be cut? is that october 1st or november 2nd? what's your end date? >> sure. we're looking at november 2nd right now as the real date.
goldman sachs says the current downsizing environment increases the potential for m & a activity. with the clock ticking down to fiscal armageddon, expect defense companies to send out layoffs after the holiday. that's your q-4 channel check for defense. i'm jane wells. >> all right. so let's dig deeper into which defense stocks could feel the biggest impacts if we go off the fiscal cliff. >> joining us is jeremy devaney. do you think we'll see those sequestration cuts in...
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Sep 26, 2012
09/12
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will save 50% on energy consumption, about 50% on water consumption, provide a less toxic indoor air environment, and fwoibuilt to l for centuries instead of a few decades. >> okay. i like your website because it lays it out clearly what you got to do. you got to buy land. >> got to have land. >> then you contact you, pick out a design. then what? is this an all-cash purchase? is it a traditional mortgage? >> we're a custom home builder. you go through the same process as anyone building a new home for themselves. you take out a construction loan. >> it's not a normal purchase money mortgage. >> right. new home construction. >> then it is delivered. how long does it take to construct? >> that's really where our market advantage lies, or one of them. there's nothing else on the face of the planet that is still built outside except for houses. you don't own anything built. outside. >> i own very little. >> so what was the question? >> basically saying how long does it take to build, how is it delivered? what's the advantage from a time perspecti perspective? >> when someone orders the house, we're
will save 50% on energy consumption, about 50% on water consumption, provide a less toxic indoor air environment, and fwoibuilt to l for centuries instead of a few decades. >> okay. i like your website because it lays it out clearly what you got to do. you got to buy land. >> got to have land. >> then you contact you, pick out a design. then what? is this an all-cash purchase? is it a traditional mortgage? >> we're a custom home builder. you go through the same process...
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Sep 27, 2012
09/12
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so there is -- it's a very skittish, very fragile environment. >> yeah. obviously, the q2 gdp numbers are old, a little dusty here, but they do not show any acceleration which is what we're trying to find clues to in the back half of the of the year. >> i think what happened is europe had a much bigger effect on business sentiment than many people thought. it's been dampening exports and capital spending which is what the durables reflect. as we moved through the summer and stabilized on europe, normally we might get some acceleration. the problem frou is you have the fiscal cliff and the election. people now have yet another excuse not to do anything. had europe not bled into the summer as long as it did, maybe you'd have gotten that spark in activity. but right now you just don't have it. >> are you taking a lot of solace in what housing's done, what confidence is doing? >> yeah, the housing numbers i think are great. that's one of the reasons the economy hasn't been strong to this point in the cycle. housing is keeping us from really stuttering on grow
so there is -- it's a very skittish, very fragile environment. >> yeah. obviously, the q2 gdp numbers are old, a little dusty here, but they do not show any acceleration which is what we're trying to find clues to in the back half of the of the year. >> i think what happened is europe had a much bigger effect on business sentiment than many people thought. it's been dampening exports and capital spending which is what the durables reflect. as we moved through the summer and...
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and, there is nothing positive, the environment, like the stock market, you have an environment that is positive. it goes up. so much is based on psychology. the environment in the business world is not positive. the environment that comes out of washington is all negative. and, i can't say we make decisions based upon tax codes. in our business, we're in a business of opportunity. i say we have three under construction because this environment creates opportunities. if you have some cash. landlords are willing to take a lesser rent if you will. employment is available because people aren't working. there are, out of the nonworking a bunch of that really do want to work and kacht find jobs. i can't say everybody that doesn't work wants to work. those opportunities present themselves we move forward. >> president will say he has cut taxes for small businesses. i what do you say to that? >> absolutely not. he can say whatever he wants to say. it is all very, patronizing the electorate. lauren: yeah. >> unfortunately this election on both sides very honestly there is a lot of credibilit
and, there is nothing positive, the environment, like the stock market, you have an environment that is positive. it goes up. so much is based on psychology. the environment in the business world is not positive. the environment that comes out of washington is all negative. and, i can't say we make decisions based upon tax codes. in our business, we're in a business of opportunity. i say we have three under construction because this environment creates opportunities. if you have some cash....
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Sep 27, 2012
09/12
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it can help nudge things and create an environment that is suitable for real growth. it is overall including real growth and inflation. the nominal level. that is really all the fed can do in terms of targeting things. qe3 could help if it gets gross expectations up for nominal spending. they will see that more estimates may be in order. lori: thank you for your time. we are a little short because of the press conference. we appreciate you joining us this afternoon. >> sure. melissa: public employees and private employees may have different paychecks. we all want more money. charles payne is here to help us with that. lori: i got a little preview of his pic today. you will have to wait until after the break. melissa: we will have it for you after the break. lori: $24 for gold. silver climbing 2%. definitely a central bank story here. rumors that china will start using. i read that somewhere. back with more after this. ♪ tdd#: 1-800-345-2550 wh i'm trading, i'm totally focused. tdd#: 1-800-345-2550 tdd#: 1-800-345-2550 and the streetsmart edge trading platform from c
it can help nudge things and create an environment that is suitable for real growth. it is overall including real growth and inflation. the nominal level. that is really all the fed can do in terms of targeting things. qe3 could help if it gets gross expectations up for nominal spending. they will see that more estimates may be in order. lori: thank you for your time. we are a little short because of the press conference. we appreciate you joining us this afternoon. >> sure. melissa:...
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Sep 28, 2012
09/12
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saves time, money, and gas and helps the environment. we'll find out what that is a little later. at optionsxpress we're all about options trading. we create easy to use, powerful trading tools for all. look at these streaming charts! they're totally customizable and they let you visualize what might happen next. that's genius! strategies, chains, positions. we put 'em all on one screen! could we make placing a trade any easier? mmmm...could we? open an account today and get a free 13-month e ibd™ subscription when you call 1-888-280-0149 now. optionsxpress by charles schwab. the economy needs manufacturing. machines, tools, people making stuff. companies have to invest in making things. infrastructure, construction, production. we need it now more than ever. chevron's putting more than $8 billion dollars back in the u.s. economy this year. in pipes, cement, steel, jobs, energy. we need to get the wheels turning. i'm proud of that. making real things... for real. ...that make a real difference. ♪ for real. ...that make a real difference. i've got two tickets to paradise!l set?
saves time, money, and gas and helps the environment. we'll find out what that is a little later. at optionsxpress we're all about options trading. we create easy to use, powerful trading tools for all. look at these streaming charts! they're totally customizable and they let you visualize what might happen next. that's genius! strategies, chains, positions. we put 'em all on one screen! could we make placing a trade any easier? mmmm...could we? open an account today and get a free 13-month e...
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Oct 1, 2012
10/12
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back to you. >>> meantime, on the search for yield in this low-rate environment, jpmorgan's naming one sector that just might give you the fix you're looking for. let's -- let's start over from the beginning. we were just driving along, comin' back from the lake, and all of a sudden, ka-plam. it blindsided us. what is it? our college savings account. how do you think it happened? not sure. i think something we bought a while ago turned out to be something else, annnnnd, i remember a lot of other stuff in there had the word "aggressive" in it. is everyone okay? well, now, yeah. who knows later. ♪ who knows later. mike rowe here at a ford tell me fiona, who's having a big tire event? your ford dealer. who has 11 major brands to choose from? your ford dealer. who's offering a rebate? your ford dealer. who has the low price tire guarantee... affording peace of mind to anyone who might be in the market for a new set of tires? your ford dealer. i'm beginning to sense a pattern. buy four select tires, get a $60 rebate. use the ford service credit credit card, get $60 more. that's up to $120
back to you. >>> meantime, on the search for yield in this low-rate environment, jpmorgan's naming one sector that just might give you the fix you're looking for. let's -- let's start over from the beginning. we were just driving along, comin' back from the lake, and all of a sudden, ka-plam. it blindsided us. what is it? our college savings account. how do you think it happened? not sure. i think something we bought a while ago turned out to be something else, annnnnd, i remember a...
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Sep 25, 2012
09/12
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they grew at 22% year over year which was a solid growth rate in this environment. and our services we bill after the fact and so that did pull down our billings growth rate, but we think it is well worth it and we still have 22% growth in our subscription business. >> these are all new businesses how are they integrating and what will they do for you in 2013? >> we bought about a year ago and we released the product redhat storage based on the technology in june. so it has been on the market and we have great results. we signed a six figure deal in the first two months. as you know, we talked about the beauty of the subscription model. when you first buy a business. even the six figure deal that we sign, has revenue. so, it is right now has huge, huge, huge potential. we have a significant backlog of demand in storage. we've expect it to do a lot in the billings and bookings. >> i'm sorry. i wanted you to address directly in the time i have left that you have won huge contracts including some taken away by others that have banks. you are winning business and you di
they grew at 22% year over year which was a solid growth rate in this environment. and our services we bill after the fact and so that did pull down our billings growth rate, but we think it is well worth it and we still have 22% growth in our subscription business. >> these are all new businesses how are they integrating and what will they do for you in 2013? >> we bought about a year ago and we released the product redhat storage based on the technology in june. so it has been on...
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Sep 26, 2012
09/12
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do you long for a more stimulating work environment? we don't. we're perfectly happy here. >> very happy. >> we did find one that might not cure for your cubicle fatigue. we'll find out what that is after the break. rick santelli, his cubicle is the size of the cme floor is working on the next hour of "squawk on the street." >> it is a great place to have the cubicle. you can learn a lot about a person by the company they keep and also learn a lot about politics by the investments of their base. we're going to talk about that and how it relates to private equity at the top of the hour and then at the bottom of the hour we're going to talk a little high frequency trading, algorithm trading and whether there is any significant benefits. have you two great packages today. tune in. when you take a closer look... ...at the best schools in the world... ...you see they all have something very interesting in common. they have teachers... ...with a deeper knowledge of their subjects. as a result, their students achieve at a higher level. let's develop mor
do you long for a more stimulating work environment? we don't. we're perfectly happy here. >> very happy. >> we did find one that might not cure for your cubicle fatigue. we'll find out what that is after the break. rick santelli, his cubicle is the size of the cme floor is working on the next hour of "squawk on the street." >> it is a great place to have the cubicle. you can learn a lot about a person by the company they keep and also learn a lot about politics by...
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Sep 28, 2012
09/12
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trying to explain just trying to see how much i could push regulators in a post-bailout environments to do something like that. it really is absurd stuff. the latest is his trying to dispel the notion. you are an investor, think about it. it does not want to look desperate in this market. they see blood in the market and he can never sell for the premium he is seeking. i would take everything, but to our viewers, take what john thain says with a grain of salt. he is never right in the past. dagen: what about the possibility mentioned of how the banks are out of the picture in terms, do you think it ended up getting sold it would end up in the private hands? >> i don't know. people talk about canadian banks. another reason the canadian banks are in good shape is because the regulators are little tougher, but we should point out they are smaller. i don't know if they're regulators will allow a purchase. not an insignificant firm right now. people say which was sold for at least $10 billion, but you have to assume it has debts. it could be a fairly substantial sale. that is big enough t
trying to explain just trying to see how much i could push regulators in a post-bailout environments to do something like that. it really is absurd stuff. the latest is his trying to dispel the notion. you are an investor, think about it. it does not want to look desperate in this market. they see blood in the market and he can never sell for the premium he is seeking. i would take everything, but to our viewers, take what john thain says with a grain of salt. he is never right in the past....
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Oct 3, 2012
10/12
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i think there's three ways to boost returns in a low returns environment. one is to look outside of mainstream. build a third pillar, if you will. we mostly rely on mainstream stocks and bonds. we have hardly anything in inflation sensitive assets and diversification into alternatives. secondly, look for alpha. try to find managers in strategies that can have value. fundamental index i think is a really important addition to that tool kit. thirdly, be tactical. when yields on bonds go negative or below the rate of inflation, which tacitly means negative yields, look elsewhere. >> bob, on that note. perfect place to leave it. we appreciate your coming by. bob arnott. >>> let's go to seema with a market flash. >> ringo is suing google over what it claims infringement of its search technology. a judge denied google's request for summary judgment and wants both parties to encage in settlements talks with the judge. that's what we understand. the stock up better than 35%. mark cuban has a big stake in this stock as well. >> thank you, seema. >>> this is a deal t
i think there's three ways to boost returns in a low returns environment. one is to look outside of mainstream. build a third pillar, if you will. we mostly rely on mainstream stocks and bonds. we have hardly anything in inflation sensitive assets and diversification into alternatives. secondly, look for alpha. try to find managers in strategies that can have value. fundamental index i think is a really important addition to that tool kit. thirdly, be tactical. when yields on bonds go negative...
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Oct 2, 2012
10/12
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i think the environment is tough, and the confidence is low, and when you have a tough environment and low confidence, i've been somewhat, i don't want to use the word depressed but become somewhat of a pessimist. the one thing sam has been is the giant optimist, the bottom of every market sam is buying stuff. and my problem, and then i had this epiphany and i said you know the problem is, if my assessment of the realities are such, everything is massively too expensive. in other words based on the fiscal cliff and all of the head winds the stock wins should be 9,000, not 14,000. the stock marked is getting bullied by qe7 or 8, whatever number it is so we're creating artificial numbers that i don't think the underline will support. >> if barack obama is reelected, would that put you in a state of you might be dprelsed a little bit longer probably, wouldn't you? >> well i just think it would be a continuation of how i am today. >> what do you think right now, are you, do you think he'll be reelected at this point? >> i'm not a political prognosticator. >> off camera you wouldn't say yes
i think the environment is tough, and the confidence is low, and when you have a tough environment and low confidence, i've been somewhat, i don't want to use the word depressed but become somewhat of a pessimist. the one thing sam has been is the giant optimist, the bottom of every market sam is buying stuff. and my problem, and then i had this epiphany and i said you know the problem is, if my assessment of the realities are such, everything is massively too expensive. in other words based on...
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is that enough for this environment where we expect so little to help the president is that enough? >> that is correct. sandra is right, next 30 to 45 days are critical. you have average 401(k) balance about 107,000, and s&p 500 un14% plus year-to-date. if you see those gains evaporate, if they go away because of poor macro headlines and higher oil prices that would be the game changer for voters. they don't want to see their brokerage statement and see these numbers start melting away if that is the case that probably both start to change using their wallets, election day. neil: when you look at the data and the market, if the market is 04 licking mechanism in the market, it can be all over the map. it has been the president's trend, an october surprise or cause pause? in other words, there would just but barring that. president dodges a financial bullet. >> one could argue that the stock market is -- has been artificially propped up by the fed's money printing measures. when the market looks today they look at earnings, we're about to get latest report on quarterly earnings, ubs p
is that enough for this environment where we expect so little to help the president is that enough? >> that is correct. sandra is right, next 30 to 45 days are critical. you have average 401(k) balance about 107,000, and s&p 500 un14% plus year-to-date. if you see those gains evaporate, if they go away because of poor macro headlines and higher oil prices that would be the game changer for voters. they don't want to see their brokerage statement and see these numbers start melting...
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Sep 28, 2012
09/12
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it would reduce job creation and keep us stuck in the low growth, high unemployment environment we're at right now. lori: just for my background sake here in the u.s. we're at about 1% expansion rate. what is the highest level of income taxes you could pay to keep us in a free enterprise capital structure society? >> well, you know, i think it is hard to pick a particular rate because it depend on the tax base and a lot of other things. however, you know, right now we're at 35% and we have no growth. a lot of people point to the clinton years, you know what, we raised taxes and economy grew. go back and look at the in those days. the economy had everything going in its favor. right now the economy has everything going against it. raising taxes now based on lodgic we could raise it back then the two things don't jibe. we're in completely different time frame. lori: so what do you think will happen in france? you've got to predict a mass exodus. what does that mean for places like london for instance? >> we're already seeing it. people are checking out they could quickly move from franc
it would reduce job creation and keep us stuck in the low growth, high unemployment environment we're at right now. lori: just for my background sake here in the u.s. we're at about 1% expansion rate. what is the highest level of income taxes you could pay to keep us in a free enterprise capital structure society? >> well, you know, i think it is hard to pick a particular rate because it depend on the tax base and a lot of other things. however, you know, right now we're at 35% and we...
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Sep 27, 2012
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. >> well, i don't think you can do it in this environment. i'd like to see us do whatever we're going to do -- >> the world's gotten a lot more dang ruerous in the last month. >> it is but we're coming out two of wars thate expen expensive, so i think you have to play with the whole deck of cards. in the long run we ought to change our tax system dramatically. i don't think we can do that in the short run. in the long run i'd love to see us go to encouraging savings and investment, some type of consumption tax at the income tax level. >> is anyone going into politics with a full deck of cards? >> well, increasingly no. >> marty, i want to just speak to one issue which is globalization in the whole tax debate during the commercial break, joe and i were talking about revenues, percentage of gdp and given the economic uncertainty and the economic headwinds we've had over the past three or four years but how much, when you think about the little revenue that we're bringing or a lot less revenue we're bringing in, how much of that is a function of
. >> well, i don't think you can do it in this environment. i'd like to see us do whatever we're going to do -- >> the world's gotten a lot more dang ruerous in the last month. >> it is but we're coming out two of wars thate expen expensive, so i think you have to play with the whole deck of cards. in the long run we ought to change our tax system dramatically. i don't think we can do that in the short run. in the long run i'd love to see us go to encouraging savings and...
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Sep 28, 2012
09/12
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. >> the planetarium is a forerful environment about the sky and and it was undergoing renovation. the friends of the planetarium, .tudents, everybody chipped in was named in honor of an arlington native, david brown. he was a mission specialist on the updated columbia. he grew up right near the planetarium. this was athe skies, from time lapse wintergreen. the morning fog and clouds. think there will be some more tomorrow morning. look at the temperatures, though. is 76 degrees. are some showers, but none the wild whether we had around last night. look at the cooler air off to our north and northwest. that will be the air coming in as they go through much of the weekend. lot better.looks a here is what is going on in doppler right now. there are those showers 40 parts ofthe northern parts southern maryland. -- for you in parts of southern maryland. you can get a general idea of widespread they are. n is one we patter have the drier air continue to come in. winds turn more to our nw. a lot of those showers will be well to our north -- well to our south. look at the morning low temp
. >> the planetarium is a forerful environment about the sky and and it was undergoing renovation. the friends of the planetarium, .tudents, everybody chipped in was named in honor of an arlington native, david brown. he was a mission specialist on the updated columbia. he grew up right near the planetarium. this was athe skies, from time lapse wintergreen. the morning fog and clouds. think there will be some more tomorrow morning. look at the temperatures, though. is 76 degrees. are some...
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Oct 3, 2012
10/12
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you save the environment would be different in 2013. other than this pressure you talk about for the rating agencies, what is going to get these guys singing to my all? >> they are not going to think oh my god. this environment is the worst, but this'll be the right time to fix it. you don't have to worry about economics not happening. it can be the second word and it's very unlikely that she can't avoid getting it to next year, where i think they're going to be outside pressures. capital market, cutting rating agencies and great leadership out of the white house to get this done. and it's going to be difficult underscored to be lots of days where it's going to look like were going to make it and there's no question about that. we are never very pretty when we solve the problems. next year is the time to do it. it does need to be done. there's no question about it. you're not going to design the big issues and things like that in the lame duck. you're just not. you have to wait till next year. >> for me ask you, what signal would you li
you save the environment would be different in 2013. other than this pressure you talk about for the rating agencies, what is going to get these guys singing to my all? >> they are not going to think oh my god. this environment is the worst, but this'll be the right time to fix it. you don't have to worry about economics not happening. it can be the second word and it's very unlikely that she can't avoid getting it to next year, where i think they're going to be outside pressures. capital...
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Sep 30, 2012
09/12
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CNNW
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but for example for the environment, you can see highway president obama refers to the policy being an all of the above policy. he also said there's been 5 million green jobs there,'s an estimate of about 3.1 million. milt romney pushes for more green drilling. we also have back on my screen here, a rundown of nine different hot points, flash points on which people disagree on energy. so if you go to cnn.com/election. everything i just showed you,
but for example for the environment, you can see highway president obama refers to the policy being an all of the above policy. he also said there's been 5 million green jobs there,'s an estimate of about 3.1 million. milt romney pushes for more green drilling. we also have back on my screen here, a rundown of nine different hot points, flash points on which people disagree on energy. so if you go to cnn.com/election. everything i just showed you,
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Oct 1, 2012
10/12
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compared to a lower corporate tax environment is $ billion. it's a tough sell to be patriotic and have that facility in the u.s. cut the corporate tax rate down to a competitive level. i think technology will continue to advance. the problem is keeping the good ideas in the u.s. and create jobs. >> it can happen in spite of things or you can help or be sort of in the way? >> or you can facilitate for an economy which is growing. what we do with foreign graduate students, taxpayer money pays to educate them to get thai masters and ph.d.s and tech topics and our immigration policy says go home. it's a brilliant philosophy. >> you said the growth in intel will be abroad. whatever the tax policy is, i imagine you have to go abroad on manufacturing and engineering. you want to go to the customer. even if we get the rate right which we all want to, what is the ultimate impact? >> you obviously want to have a balance. you look at a company like intel the bulk of it's manufacturing still in the u.s., the bulk of its r&d is in the u.s. and the bulk of
compared to a lower corporate tax environment is $ billion. it's a tough sell to be patriotic and have that facility in the u.s. cut the corporate tax rate down to a competitive level. i think technology will continue to advance. the problem is keeping the good ideas in the u.s. and create jobs. >> it can happen in spite of things or you can help or be sort of in the way? >> or you can facilitate for an economy which is growing. what we do with foreign graduate students, taxpayer...
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you create a better environment for business. they will see higher expenses in terms of their tax rate. they will put that money to work in terms of hiring more people. remember, these companies are also facing an increased tax surrounding health-care. that is another issue. i here at the expense of health care has risen considerably and it will continue to rise. if we were to see a change in the health-care costs, that would eliminate a big pressure for small business. i hear upset over the tax code and over health care expense as well as the regulatory environment, which includes a handful of fees. host: next call comes from boston, jerard. caller: hi, maria. i look at this debt thing. you need to protect the money. the economy would be saved by protecting the dollar. the government takes in $four trillion in taxes but bar money from china -- but borrow money from china. they takein $4 trillion and our borrowing $6 trillion. who is giving these loans? guest: you have china buying our treasuries. there are not a lot of alternati
you create a better environment for business. they will see higher expenses in terms of their tax rate. they will put that money to work in terms of hiring more people. remember, these companies are also facing an increased tax surrounding health-care. that is another issue. i here at the expense of health care has risen considerably and it will continue to rise. if we were to see a change in the health-care costs, that would eliminate a big pressure for small business. i hear upset over the...
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how in your opinion, should americans continue to be at risk in that environment? is it too unstable of an environment for effective security exercise to continue? your thoughts on that. >> i appreciate that question. in 2001, i voted to authorize use of mill tear force in afghanistan. in the days and months following the nen attacks on the united states. it was a very clear and focused megs to go after those who planned and executed that attack. and i believe our brave men and women who went to afghanistan, very capably fulfilled that mission, frankly in fairly short order. i was in afghanistan in august of 2010, in kabul and at bagram air force base. i met with wisconsin soldiers and -- soldiers and folks in the military from the senior ranks to the tissue to those coming back from forward operating bases. you would be so proud of those men and women, but the mission today this nation building mission, is not the one that was authorized. it is now time for them to come home. >> governor thompson? >> my opponent just, i think, misstated. she said she voted for the
how in your opinion, should americans continue to be at risk in that environment? is it too unstable of an environment for effective security exercise to continue? your thoughts on that. >> i appreciate that question. in 2001, i voted to authorize use of mill tear force in afghanistan. in the days and months following the nen attacks on the united states. it was a very clear and focused megs to go after those who planned and executed that attack. and i believe our brave men and women who...
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so, in an environment where you can't talk about medicare, in an environment where no one will talk about base broadeners, everyone talks about loophole closers, how do you, how do you get from here to there? and let me ask doug, first, you said that the environment will be different in 2013. other than this pressure you talked about pro the rating agencies what will get these guys singing kumbayah with each other? >> they're not going to sing kumbayah. i don't want to pretend that they will. this environment is the worst but this would be the right time to fix the fiscal cliff so we don't have to worry about the economics. not happening. lame duck would be the second worst. and for all the reasons i outlined i think it is very unlikely we'll do anything real significant. do the little bit you can to avoid damage and get to next year where, i think they're going to be outside pressures from capital markets and rating agencies and there's going to have to be great leadership out of the white house to get this done, and it will be hard. i'm not saying it will be easy. i'm not going to say i
so, in an environment where you can't talk about medicare, in an environment where no one will talk about base broadeners, everyone talks about loophole closers, how do you, how do you get from here to there? and let me ask doug, first, you said that the environment will be different in 2013. other than this pressure you talked about pro the rating agencies what will get these guys singing kumbayah with each other? >> they're not going to sing kumbayah. i don't want to pretend that they...
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at the same time is not providing the type of security that is necessary in the environment that we are in. i don't think there's anybody who in congress or the senate that can articulate what this presidenting apolicy is post-gadhafi in libya. he didn't articulate it when he began the military action and certainly isn't now leaving americans at risk. >> thank you for your time. i think it is, to be fair to the administration and there's obviously two republican members of congress. i mean, it's not clear how much the u.s. was in control of events. there were events happening around the world and events were happening in libya and the streets of egypt without the u.s. being in the forefront of it. and in many cases the u.s. was reacting, as often happens in foreign policy. the arab spring is not something the u.s. necessarily has control over. >> that's right, anderson. we have to understand that. that said, our experience tells us whether it is the bombings or the "uss cole." in yemen, libya, because of a weak central government -- we know al qaeda has the wherewithal to take advantage
at the same time is not providing the type of security that is necessary in the environment that we are in. i don't think there's anybody who in congress or the senate that can articulate what this presidenting apolicy is post-gadhafi in libya. he didn't articulate it when he began the military action and certainly isn't now leaving americans at risk. >> thank you for your time. i think it is, to be fair to the administration and there's obviously two republican members of congress. i...
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Sep 25, 2012
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joe, back to you, my friend. >> okay, barry made some comments on our air about the business environment, it was a while ago, i don't know how he feels now. i know about his wife but not him. >>> coming up, we'll head down to the new york stock exchange next. >>> ready or not the stock of the day is coming up. you're watching "squawk box" on cnbc. first in business worldwide. how do you know which ones to follow? the equity summary score consolidates the ratings of up to 10 independent research providers into a single score that's weighted based on how accurate they've been in the past. i'm howard spielberg of fidelity investments. the equity summary score is one more innovative reason serious investors are choosing fidelity. get 200 free trades today and explore your next investing idea. >>> let's get down to the new york stock exchange where jim kramer is joining us now. when you read that caterpillar stuff, did you think, wow, it's 2012, they are talking about 2015, it is a long business that they take it in a long viewpoint, but did it make you wonder where commodity prices would be
joe, back to you, my friend. >> okay, barry made some comments on our air about the business environment, it was a while ago, i don't know how he feels now. i know about his wife but not him. >>> coming up, we'll head down to the new york stock exchange next. >>> ready or not the stock of the day is coming up. you're watching "squawk box" on cnbc. first in business worldwide. how do you know which ones to follow? the equity summary score consolidates the...
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Sep 30, 2012
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but we also believe that this must also be resolved in a humane atmosphere, in a participatory environment and we do not like anybody losing their lives or being killed. >> there are protesters all over the middle east now threatening the staff of american embassies, to kill them, behead them. do you think they should stop? >> translator: you see, i cannot determine what people or nations should do, but i do think that extremism gives birth to following and subsequent extremism. perhaps if the politicians take a better position in the west vis-a-vis offensive words or thoughts or pictures toward what we hold holy, i think conditions will improve. but most nations do not pursue tensions and conflict. >> what was your view, your opinion, of the arab spring last year? and what is your opinion of what is happening now in the countries where there were uprisings and we saw the end of gadhafi and mubarak and so on? >> translator: i do believe that all of the world needs reform. the reform must take place everywhere. everywhere. even in the very same place that you and i are sitting because still
but we also believe that this must also be resolved in a humane atmosphere, in a participatory environment and we do not like anybody losing their lives or being killed. >> there are protesters all over the middle east now threatening the staff of american embassies, to kill them, behead them. do you think they should stop? >> translator: you see, i cannot determine what people or nations should do, but i do think that extremism gives birth to following and subsequent extremism....
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Oct 1, 2012
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. >> well, this is a tricky business because you have a coal situation and environment and all those concerns. how do you win on that argument in your state and how is mandel running that case? he seems like he's stuck with the romney idea. >> yeah, he is. and i think you win on that by, you know, you know, we've talked enough on this show, chris, and you get this better than almost anybody, that it's not liberal/conservative, left or right, it's whose side you're on. i go to belmont county and zanesville and cambridge and woodsfield and these communities in appalachia. they know i want to keep programs strong for veterans. veterans have a higher unemployment rate. we're always working on helping with manufacturing. there's a lot of small manufacturers in these small communities, and i want to make sure that these workers get an opportunity to send their kids to school. we have more coal mine jobs today in ohio than we did four years ago. it's not a huge number anymore, but it matters in our state, and we're seeing those -- i think those miners come around and support the president i
. >> well, this is a tricky business because you have a coal situation and environment and all those concerns. how do you win on that argument in your state and how is mandel running that case? he seems like he's stuck with the romney idea. >> yeah, he is. and i think you win on that by, you know, you know, we've talked enough on this show, chris, and you get this better than almost anybody, that it's not liberal/conservative, left or right, it's whose side you're on. i go to...
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they don't know what the regulatory environment will look like. they don't know what demand will look like next year. so because of these uncertainties as a revote of the fiscal cliff and we haven't had any policies coming out of congress and the white house to really fix this. it's all been monetary policy. the federal reserve has been the only one out there, doing the game in town to provide for this economy. we don't have an energy policy, haven't had a budget in three years. so as a result, businesses are waiting to see what happened with this election and they are waiting to see what their lives will look like, tax rates, regulation, et cetera. they are upset by the health care expense they waited until after the election to decide if they will hire new workers and put your money to work. so i think we really are in standstill mode unfortunately the u.s. economy right now. >> another story from "politico" this morning. here's the headline. wall street braces for an obama win. mitt romney was wall street candidate committed to lower taxes and
they don't know what the regulatory environment will look like. they don't know what demand will look like next year. so because of these uncertainties as a revote of the fiscal cliff and we haven't had any policies coming out of congress and the white house to really fix this. it's all been monetary policy. the federal reserve has been the only one out there, doing the game in town to provide for this economy. we don't have an energy policy, haven't had a budget in three years. so as a result,...
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Sep 28, 2012
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. >> so as you look forward, how do you invest in an environment that looks like we're going to have easy money for a long time? you've kind of changed the typical asset allocation most people go to. >> oh, yeah, it's a crazy world. at oppenheimer we're talking about the new 60/40. people's portfolios are perfectly positioned for the past. they're positioned for 2008. we're still seeing 30 billion a quarter flowing into core bond funds, which are yielding negative in real terms, below inflation. that's madness from our point of view. investors have to understand that the notion of what is safe and what is risky has to be adjusted a little bit. safe doesn't mean securities that have a lot of interest rate risk and no yield. that is not what safety means to us today. again, given the plentiful liquidity and what we think is a moderate global recovery, we think it's safe to move out into more credit-oriented investments, more higher income investments. >> high yield corporate? >> high yield continues to look good in our view. it's come that lot but far from how tight it can get. there's
. >> so as you look forward, how do you invest in an environment that looks like we're going to have easy money for a long time? you've kind of changed the typical asset allocation most people go to. >> oh, yeah, it's a crazy world. at oppenheimer we're talking about the new 60/40. people's portfolios are perfectly positioned for the past. they're positioned for 2008. we're still seeing 30 billion a quarter flowing into core bond funds, which are yielding negative in real terms,...
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that is not you know a good environment for compromise. so, things have always work themselves through and i think they will now but that fiscal cliff thing is looming as a real problem and it doesn't have to be because the basic guts of it are good and i think having, relying on the central bank to shoulder all the burden of charging the economy and abandoning the fiscal side because of the difficulty in the political process you know is unfair and gives us a skewed and unfair view of the rio i think in a lot of ways courage. whether it works or not is still open to debate and people are certainly exercising their power to grant it fully but if you are -- if only one side of the car is driving you will go in circles. >> we just had simpson-bowles and two years too late with a couple trillion dollars extra debt on top. >> sometimes the policy needs that time to sort out. the fact that it's an efficient in the long term, the efficiencies we take in order to get people to throw in, the long-term is what makes the system stable. so i'm not wo
that is not you know a good environment for compromise. so, things have always work themselves through and i think they will now but that fiscal cliff thing is looming as a real problem and it doesn't have to be because the basic guts of it are good and i think having, relying on the central bank to shoulder all the burden of charging the economy and abandoning the fiscal side because of the difficulty in the political process you know is unfair and gives us a skewed and unfair view of the rio...
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Sep 26, 2012
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the environment as a commonwealth and heritage of then tire humankind and a con stability guarantor of man's survival has been seriously damaged and devastated as a result of irresponsible and excessive use of resources, particularly by capitalists across the world. a situation that has caused massive welt, flood, and pollution. this advances in scientific knowledge and technology. the aspirations of adams children have not yet been fulfilled. does anybody believe that continuation of the current order is capable of bringing happiness for human society? today everyone is discontent and disappointed with the current international order. dear colleagues. human beings do not deserve to be under continued suffers of the present situation. our wisdom and compassion who loves all human beings has not ordained a destiny for mankind. he has altered human as the supreme crucial to make the best and most beautiful life on earth along with justice, love, and dignity. we must therefore think of a solution. who is responsible for all these suffering and failures? some people try to justify that eve
the environment as a commonwealth and heritage of then tire humankind and a con stability guarantor of man's survival has been seriously damaged and devastated as a result of irresponsible and excessive use of resources, particularly by capitalists across the world. a situation that has caused massive welt, flood, and pollution. this advances in scientific knowledge and technology. the aspirations of adams children have not yet been fulfilled. does anybody believe that continuation of the...
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technologies allow natural gas producers to supply affordable, cleaner energy, while protecting our environment. across america, these technologies protect air - by monitoring air quality and reducing emissions... ...protect water - through conservation and self-contained recycling systems... ... and protect land - by reducing our footprint and respecting wildlife. america's natural gas... domestic, abundant, clean energy to power our lives... that's smarter power today. i have a cold... i took dayquil, but i still have a runny nose. [ male announcer ] truth is, dayquil doesn't work on runny noses. what? [ male announcer ] it doesn't have an antihistamine. really? [ male announcer ] really. alka-seltzer plus cold and cough fights your worst cold symptoms, plus has a fast acting antihistamine to relieve your runny nose. [ sighs ] thank you! [ male announcer ] you're welcome. that's the cold truth! [ male announcer ] alka-seltzer plus. ♪ oh what a relief it is! ♪ [ male announcer ] try new alka-seltzer plus severe allergy to treat allergy symptoms, plus sinus congestion, and pain. and those w
technologies allow natural gas producers to supply affordable, cleaner energy, while protecting our environment. across america, these technologies protect air - by monitoring air quality and reducing emissions... ...protect water - through conservation and self-contained recycling systems... ... and protect land - by reducing our footprint and respecting wildlife. america's natural gas... domestic, abundant, clean energy to power our lives... that's smarter power today. i have a cold... i took...
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Sep 26, 2012
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i think the social cost of qe in that environment is going to be sufficiently poor, that the fed will step away. >> we're getting these weird cross currents. i'm glad you're here to ask about it. when the fed did it, we thought wow, things are worse than we thought. consumer confidence seems to be improving. the market was doing better. there's a lot of things that look like -- what were you talking about? what was so bad that you saw in this economy? but again, the transportation average is now down for the year. china looks worse than it was. are we entering a -- are we doing okay and accelerating in terms of growth, or are we slowing down again? >> i think there's probably three things that feed into it. first the transition mechanism wasn't working. people were instead of going out and buying risk assets and investigating companies, they were buying bonds in anticipation of the fed buying so. the operation twist was flattening the yield curve and trap iping liquidity there. i think the fact fact was constantly giving fixed numbers and fixed dates gives the market something to focu
i think the social cost of qe in that environment is going to be sufficiently poor, that the fed will step away. >> we're getting these weird cross currents. i'm glad you're here to ask about it. when the fed did it, we thought wow, things are worse than we thought. consumer confidence seems to be improving. the market was doing better. there's a lot of things that look like -- what were you talking about? what was so bad that you saw in this economy? but again, the transportation average...
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tell me how you see the environment changes and where specifically you would expect growth to happen in technology in the next five years. >> well, i think technology in general -- probably the biggest challenge is not so much the social interactions but everybody's talking so much about data. data is very, very hard to mine correctly. so i think you're going to see a push back towards a lot of enterprise apps that really figure out how it get information to the companies so they can actually be more personalized for the user, but easy to say, a lot to do. >> and really quick, on what you're seeing out there, how tough is europe right now for technology? what are you seeing in terms of the global slow down? >> well, europe continues to baffle us in general in technology. it looks like it's getting softer, not stronger. you know, companies that diversified over the past 20 years do make sure they had good portfolios in all the regions, you know, are taking a hit now with europe. i think it's broad based, so it shouldn't be a knock on any one company. we all know the issues. you better
tell me how you see the environment changes and where specifically you would expect growth to happen in technology in the next five years. >> well, i think technology in general -- probably the biggest challenge is not so much the social interactions but everybody's talking so much about data. data is very, very hard to mine correctly. so i think you're going to see a push back towards a lot of enterprise apps that really figure out how it get information to the companies so they can...
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is it too unstable of an environment for productive security exercise to continue, and your thoughts on that? >> well, i appreciate that question. in 2001, i voted to authorize use of military force in afghanistan. in the days and months following the 9/11 attacks on the united states. it was a very clear and focused mission to go after those who planned and executed that attack. and i believe that our brave men and women who went to afghanistan very capably fulfilled that mission frankly and fairly in short order. i was in afghanistan in august of 2010 in kabul and bagram air force base and met with wisconsin soldiers and folks in the military from the senior ranks to the -- to those coming back from forward operating bases. you would be so proud of those men and women. but this nation building mission is not the one that was authorized and it's now time for them to come home. >> governor thompson? >> my opponent just, i think, misstated. she said she voted for the sanctions and against iran. she voted against the sanctions in 2006, 2009, and 2010, and in august voted for them becau
is it too unstable of an environment for productive security exercise to continue, and your thoughts on that? >> well, i appreciate that question. in 2001, i voted to authorize use of military force in afghanistan. in the days and months following the 9/11 attacks on the united states. it was a very clear and focused mission to go after those who planned and executed that attack. and i believe that our brave men and women who went to afghanistan very capably fulfilled that mission frankly...
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let's get straight to the markets and talk about investing in this environment. gentlemen, good see you. thank you so much for joining us. dan, let me kick this off with you. what do you think happened at end of the day today? seems this market has been trading on some worries last several sessions. yet, we did see some optimism at end of the day. >> absolutely. it's a case of perhaps, you know, still do not fight the fed. what we were watching specifically was apple. you mentioned it. we were looking for support on the stock at around 650. wouldn't you know it, it hit their intraday lows. they don't want to see that stock drop. the interesting thing with that is, you know, apple is a bell weather that's really driving the nasdaq 100, driving a lot of these larger cap benchmarks we follow. if you keep that buoyed, you're going to keep the markets buoyed going forward. >> that's a really good point. i guess, david, for those fund managers who have not owned apple, they're going to be playing catch up fourth quarter so their fund looks better by year end, right? >>
let's get straight to the markets and talk about investing in this environment. gentlemen, good see you. thank you so much for joining us. dan, let me kick this off with you. what do you think happened at end of the day today? seems this market has been trading on some worries last several sessions. yet, we did see some optimism at end of the day. >> absolutely. it's a case of perhaps, you know, still do not fight the fed. what we were watching specifically was apple. you mentioned it. we...
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>> there are multiple actors in this environment. there are criminal organized groups targeting the financial services sector. some of the broader threats and the most substantial threats beyond that is what was referred to is the destruction of data, the denial of access. there are foreign intelligence services that are pursuing across all the man's, and there are terrorist groups advocating attacks on the western world, calling for digital jihad, targeting our infrastructure, but also looking at our financial services sector. there have been videos released were those that are simple law and i sympathetic to the cause have called for attacks on the west, and had called for youth to use their skills to attack the west, and this is their call to jihad. it is broadening beyond the 15- year-old kid defacing a website into a big business for organized crime groups and into a cyber weapon. cyber is the great equalizer. canbody with a laptop attack a network. there are 2.3 billion people who have an internet connection. the barrier to ent
>> there are multiple actors in this environment. there are criminal organized groups targeting the financial services sector. some of the broader threats and the most substantial threats beyond that is what was referred to is the destruction of data, the denial of access. there are foreign intelligence services that are pursuing across all the man's, and there are terrorist groups advocating attacks on the western world, calling for digital jihad, targeting our infrastructure, but also...
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. >> i think if you look at what's happening in the current environment, this is an environment surrounded with uncertainty. we have the election in front of us here in just about a month. we have china. the best thing that happened to europe in the last several months is the ryder cup today. other than that, europe's really been struggling. here we are sitting in a world of uncertainty and the markets get higher and qe3 comes in remarkably at a high point in the market as opposed to a low point in the past. nothing but fuel to a fire. >> absolutely. go figure. tom, let me get to you. to leo's point about the institutions propping up the market, along with the central bark, he bank, here's a staggering stat. during the time june to august individual investors yanked out almost $40 billion. here's mom and dad at home, retail investors, not participating in this rally. and the fear is they may get in at the top when they think, i don't want to miss out. is that a real danger right now? >> well, i think it is in the short term, yes. i mean unfortunately, we always sort of tend to see the reta
. >> i think if you look at what's happening in the current environment, this is an environment surrounded with uncertainty. we have the election in front of us here in just about a month. we have china. the best thing that happened to europe in the last several months is the ryder cup today. other than that, europe's really been struggling. here we are sitting in a world of uncertainty and the markets get higher and qe3 comes in remarkably at a high point in the market as opposed to a...
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Oct 1, 2012
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go like a pro. >>> are you hunting for yield in this low interest rate environment? i bet you are. seema mody is looking at big pharma for some benefits. >> cash balances across the pharma sector are increasing. jpmorgan says we could see more cash being returned to shareholders per dividend. pfizer in the last five years has increased its dividend three times, 10%, 11%, and 12.5% respectively. jpmorgan also expects merck will generate roughly $45 billion, or 40% of its current market cap in post-dividend free cash flow through 2017 and it anticipates much of this capital to be returned to shareholders over time. let's keep in mind, four of the largest pharmaceutical firms on average already offer a dividend yield of 4% which is roughly 2% higher than stocks on the s&p 500 and vastly outperforms the 10-year treasury note. even when comparing pharma to other sectors on an aggregate basis, pharma represents the second biggest contributor of any industry, around $26 billion. that major takeaway, it could mean more cash return to shareholder. >>> in the next hour, is amazon's new kindl
go like a pro. >>> are you hunting for yield in this low interest rate environment? i bet you are. seema mody is looking at big pharma for some benefits. >> cash balances across the pharma sector are increasing. jpmorgan says we could see more cash being returned to shareholders per dividend. pfizer in the last five years has increased its dividend three times, 10%, 11%, and 12.5% respectively. jpmorgan also expects merck will generate roughly $45 billion, or 40% of its current...
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they don't like the environment of what's happening. here's sam zell, listen to this. >> how the, quote, 1% or the 10%, the top earners moved ahead of everybody. i wonder if there's any correlation between while they were moving ahead, the rest of the government was subsidizing, subsidizing more and more people. i think they are disincentive vised by if you don't pay for health care, that's another thing you don't have to worry about. >> he sounds like he could be sitting at the mitt romney fundraiser. his disdain of the 47% is the same as mitt romney's. he's not the only algart complaining. leon cooperman, this hedge fund manager and former obama supporter, said this, you know, the largest and greatest country in the free world put a 47-year-old guy that never worked a day in his life and made him in charge of the free world. not totally different from taking adolph hitler in germany and making him in charge of germany because people were economically dissatisfied. you know, this is absolutely repulsive. what are these billionaires ups
they don't like the environment of what's happening. here's sam zell, listen to this. >> how the, quote, 1% or the 10%, the top earners moved ahead of everybody. i wonder if there's any correlation between while they were moving ahead, the rest of the government was subsidizing, subsidizing more and more people. i think they are disincentive vised by if you don't pay for health care, that's another thing you don't have to worry about. >> he sounds like he could be sitting at the...
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environment. >> look, where did mitt romney make his bone, so to speak. it was bain and company, not bain capital, as consultants. probably great with a power point and wonderful with presentation, boiling information down into nuggets and presenting it in a coherent fashion. i think he'd like to do that without anybody intervening or, you know, interrupting. when you see him on the campaign and he starts having to talk like a normal person and interacting with people, it almost always throws him and he starts saying who knows what. so i think, you know, he'll have his presentations but if you watched the interview last night with scott pelley, he still can't speak in depth about budget cuts, tax deductions he wants to limit, and so he's very good at that first index card, but how you get -- what he has to say for the second, third, fourth index card, it's still a problem for him. >> that's the moderator's challenge. get beyond the memorized material. no one can question on whether they come down on the different sides of the tax issue. let's watch their
environment. >> look, where did mitt romney make his bone, so to speak. it was bain and company, not bain capital, as consultants. probably great with a power point and wonderful with presentation, boiling information down into nuggets and presenting it in a coherent fashion. i think he'd like to do that without anybody intervening or, you know, interrupting. when you see him on the campaign and he starts having to talk like a normal person and interacting with people, it almost always...